Turning 20. Gone are my teenage days and I honestly don’t know where the time has gone. Having a celebratory drink in the student pub, watching the snow fall and reminiscing about my time on this planet, made for an unforgettable birthday. Nothing nurtures the soul quite like travelling, learning and being passionate. Meeting like-minded young people here in Canada has certainly reignited an optimism in me. Seeing my generation begin to filter in to the workforce, the future, for now at least, seems promising.
This week, I focused my time across two projects at the CTF.
Corporate Welfare, or simply ‘bad economics,’ seems to be an issue here in Canada just as it is back home. The Government is throwing around a substantial amount of cash subsidies and loan guarantees to multinational, multimillion dollar businesses. This month the Government announced a $42 million grant to Honda for ‘upgrades and research.’ Honda made a gross profit of over $27 Billion USD in the previous financial year. Most likely not the most effective use of taxpayer money!
Although the move may be a ‘vote winner’ for the politicians, distorting markets does no favours for the economy. Canada’s largest aircraft manufacturer, Bombardier, is also on the lookout for a large chunk of taxpayer money in order to stay ‘competitive’ with more efficient manufacturers around the world. The CTF and other economic organisations across Canada have been putting a lot of pressure on the Canadian Government not to give in to such a demand. It will be interesting to see the outcome in the following months.
The issue of political expenses have been prevalent in the Australian news lately, but not to fear; our cousins across the pond don’t seem to be doing much better. The answers to our Access to Information Requests have arrived at our offices this week. I am sorting through hundreds of documents finding some ludicrous expense claims. Hundred dollar dinners seem to be a recurring theme and I am sure many more will be discovered in the coming weeks.